The United States excess and surplus lines market presents opportunities that are not lost on the rest of the world. Lloyd’s is the second largest U.S. surplus lines writer with a 14 percent market share. Direct written premiums were $4.675 …
From the executive office of the Greater New York Mutual Insurance Companies on Madison Avenue in the heart of New York City, Warren Heck, chairman and chief executive officer, can see Illinois. “It’s fantastic, unbelievable. I get very excited when …
Since the devastating hurricane seasons of 2004 and 2005, some Florida politicians and a few insurers have claimed that the private insurance industry cannot pay for natural disaster losses without the support of a system of state and federal natural …
American International Group has donated $300,000 to its Disaster Relief Fund (DRF) to help CHF International bring relief to earthquake-affected Peruvians, as they rebuild and recover from the 7.9 magnitude quake that struck the country August 15. The quake killed …
San Francisco Bay Area leaders have announced plans to develop a system that will allow the region’s public agencies to communicate with each other when an earthquake or other major disaster strikes. Oakland Mayor Ron Dellums, San Francisco Mayor Gavin …
A powerful earthquake off western Indonesia triggered warnings of a potentially destructive tsunami across much of the Indian Ocean region Wednesday, meteorological agencies said. [IJ Ed. Note: Several powerful aftershocks also triggered Tsunami warnings, but as of 7:00 a.m. EDT, …
The California Legislature has passed SB 430, designating $1.3 billion from participating insurers to fund the California Earthquake Authority (CEA). This additional $1.3 billlion contribution is being made with no compensation to the particpating insurers (PIs), and brings total financial …
California’s legislative session for 2007 ended with a flurry yesterday, but at least two priorities failed to materialize, causing Gov. Arnold Schwarzenegger to call special sessions to focus on those issues. Topics remaining that need to be discussed include an …
France’s SCOR Group lost no time in taking over operations at newly-acquired Swiss reinsurer Converium AG, and putting its own people in top management positions. Converium’s former executives, including Chairman Markus Dennler and CEO Inga Beale, stepped down. A new …
Chatsworth, Calif.-based The Harry W. Gorst, Co. promoted Nelson Oliva to underwriter for the personal lines department. Oliva joined the firm in 2004 as assistant underwriter and reported directly to Bryan Clark, senior vice president/underwriting. Harry W. Gorst Co. specializes …
